Officials: Weyerhaeuser to invest $16.1 million in Natchitoches, Louisiana - Global Paper Money

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Officials: Weyerhaeuser to invest $16.1 million in Natchitoches, Louisiana

NATCHITOCHES, La. (From news reports) -- Weyerhaeuser will make a $16.1 million capital investment in its Natchitoches mill over the next several years, state and company officials announced. The project will provide major equipment upgrades at the site, including modernization of manufacturing presses and machinery.

Weyerhaeuser will secure more than 200 existing jobs and potentially create as many as 20 new direct jobs over the next several years, with the new jobs providing an average annual salary of $45,000 plus benefits, officials said. Louisiana Economic Development estimates the project will result in 25 new indirect jobs for a total of 45 new jobs in the region.

LED offered the company an incentive package that includes the LED FastStart workforce training program. Weyerhaeuser also will receive a Modernization Tax Credit of $350,000 - to be claimed in equal installments over five years - and the company is expected to utilize Louisiana's Quality Jobs and Industrial Tax Exemption programs, LED says.

The company owns nearly 12.4 million acres of timberlands in the U.S. and manages an additional 14 million acres in Canada. The company also manufactures wood products.

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